Philadelphia logistics company buys 19 industrial buildings throughout DFW

Arden Logistics now claims close to 2 million square feet of assets in the region

Arden logistics' Craig A. Spencer (Arden Logistics, iStock)
Arden logistics' Craig A. Spencer (Arden Logistics, iStock)

Philadelphia-based Arden Logistics Parks has bought a big portfolio of North Texas industrial properties from MoxieBridge, a Dallas-based private real estate investor. The acquisition includes a total of 19 buildings totaling more than 764,000 square feet throughout the Dallas-Fort Worth area.

The properties are primarily in the eastern and northern suburbs of Dallas. The biggest buildings named in the purchase are 545 Commerce in Southlake, 902 Fountain in Grand Prairie, 2120 Vanco in Irving, 12400 Ford in Farmers Branch, 1705 John Connally in Carrollton, 3325 Halifax in Dallas, 15301 Midway in Addison, 3609 Marquis in Garland and 3301 Innovative in Mesquite. The buildings are 96 percent leased to 29 tenants, according to the Dallas Morning News.

With this acquisition, Arden Logistics is “now approaching 2 million square feet of assets in the region,” said chairman and CEO, Craig A. Spencer. Founded in 1989, the firm has acquired $7 billion in industrial properties across Atlanta, Boston, Charlotte, Columbus, Houston, Indianapolis, Philadelphia, San Antonio, Tampa and other markets.

The sale price of the DFW portfolio was not disclosed.

More than $1.4 billion in North Texas industrial and warehouse buildings were sold in the year ending in May, according to the latest data from Yardi Systems. More than 70 million square feet of DFW warehouse space is under construction — the most of any U.S. metro area.

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[DMN] — Maddy Sperling